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Gov Newsom announces major banks agree to grace period for mortgage payments

By Jesus Reyes

March 25, 2020 1:53 PM

Published March 25, 2020 1:02 PM

During the news conference, Gov. Newsom announced that many of the biggest banks in the state have agreed to a 90-day grace period for mortgage payments. Bank of America agreed to a 30-day grace period.

Families should not lose their homes because of COVID-19. Very pleased that Wells Fargo, Citi, JPMorgan, and US Bank have agreed to a 90 day grace period for mortgage payments for those impacted by #COVID19.

A big sigh of relief for millions of CA families.
— Gavin Newsom (@GavinNewsom) March 25, 2020

This comes as approximately 1 million Californians have filed for unemployment, Newsom announced.

UPDATE: California has distributed 24.5 million N95 masks. We have now ordered 100 million new masks.

But it isn’t enough. We’re working around the clock to secure the personal protective equipment needed for those on the frontlines of #COVID19.
— Gavin Newsom (@GavinNewsom) March 25, 2020

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